Sean works for Midwest University and has been tasked to organize an alumni reunion. So far, Sean
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Question:
Sean works for Midwest University and has been tasked to organize an alumni reunion. So far, Sean has received 29 quotes from different venues. Mary, the alumni association's president, has asked Sean to provide an estimate of the average cost. Further, Mary requested Sean to ensure that outliers do not affect the average cost calculation. Finally, Mary wants a reasonable cost range for the event (hint: Sean should apply the second empirical rule to estimate the range).
- Look for outliers and indicate which value, if any, is an outlier. State which methodology covered in class you used to determine an outlier (4 pts)
- Calculate the average cost (hint: remember not to include any outlier) (4pts)
- Provide a reasonable prediction of the range of cost that the reunion will cost (hit: apply the second empirical rule) (2 pts)
Observation_No | Event_Cost ($) | Z_Score ? |
1 | 29865 | |
2 | 48652 | |
3 | 48000 | |
4 | 28000 | |
5 | 12500 | |
6 | 18760 | |
7 | 28500 | |
8 | 29300 | |
9 | 85000 | |
10 | 27000 | |
11 | 25000 | |
12 | 1990 | |
13 | 31200 | |
14 | 26000 | |
15 | 30900 | |
16 | 26275 | |
17 | 16000 | |
18 | 18000 | |
19 | 35000 | |
20 | 33475 | |
21 | 45000 | |
22 | 32850 | |
23 | 45700 | |
24 | 11000 | |
25 | 14780 | |
26 | 24300 | |
27 | 34866 | |
28 | 29000 | |
29 | 34100 |
Related Book For
Quality Inspired Management The Key to Sustainability
ISBN: 978-0131197565
1st edition
Authors: Harold Aikens
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